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5 May 2017
 |
Warren Buffett (The Total Investment & Insurance
Solutions)
Warren Buffett says he's sold about a third of the 81 million shares he
holds in IBM, sending the stock sharply in early trading. The Total Investment & Insurance
Solutions
Buffett bought into IBM when its stock as it
was approaching an all-time high, but it's been in decline since then as Amazon
and Microsoft have dominated the cloud.
Buffet said Friday, "I don't value IBM
the same way that I did six years ago when I started buying."
But Buffett says Berkshire Hathaway, which
kicks off its annual meeting Saturday, could still buy IBM shares. The Total Investment & Insurance
Solutions
Two days ago, Moody's downgraded IBM's senior
unsecured rating.
Shares of International Business Machines
Corp. dropped almost percent to $153.35, the second-worst sell-off of the year.The Total Investment & Insurance
Solutions
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